General
Mak Honours Governor Tumusiime Mutebile with Multibillion Complex
The Prime Minister of Uganda, Rt. Hon. Ruhakana Rugunda on 27th October 2015, laid the foundation stone for the construction of a multi-billion complex in honour of the Governor of Bank of Uganda, Prof. Emmanuel Tumusiime-Mutebile at Makerere University Private Sector Forum grounds. Hon. Ruhakana Rugunda represented the President of Uganda, His Excellency Yoweri Kaguta Museveni.
Prof. Emmanuel Tumusiime-Mutebile also unveiled the artistic impression for the Mutebile Centre of Excellence at the same grounds. The Centre of Excellence, estimated at USD 20 million is a tribute to Prof. Mutebile’s commitment to national and international development. The Mutebile Centre of Excellence for Private Sector Development will be a hub of information, research, innovation and knowledge transfer. To be developed with the aim of promoting projects meant to enhance community development and job creation, the centre will also house Prof. Mutebile’s biography including profiles and documentaries of his life achievements as well as his writings and publication among others.
The distinguished Prof. Emmanuel Tumusiime Mutebile Chair in Monetary Policy, Banking and Finance will be hosted by Makerere University School of Economics under the College of Business and Management Science (COBAMS). The Chair estimated at USD 5 million will be occupied by a distinguished Professor with a task of building Programmes and mobilising resources to sustain and uphold it. According to the Vice Chancellor, Prof. John Ddumba-Ssentamu, the first Chair holder will be identified and accredited by Professor Tumusiime Mutebile.
The Vice Chancellor described the Mutebile Chair and Centre of Excellence at Makerere University as a golden opportunity for the institution to associate with a person of broadly valued expertise and rich ideas in monetary Policy reforms, banking and finance. He added that Prof. Tumusiime-Mutebile’s rich Knowledge shall widely be shared in academia to create a positive impact on socio-economic transformation of Uganda.
“His knowledge and expertise can be harnessed to further inform policy formulation not only in Uganda but the region at large, as we strive to increase socio-economic development towards attaining the national Vision 2040. Makerere University therefore takes the pride in celebrating Prof. Tumusiime-Mutebile’s prominence and reputation at both the national and international levels,” he said.
In his speech read by the Prime Minister, Rt. Hon. Ruhakana Rugunda, H.E Yoweri Kaguta Museveni, applauded Prof. Tumusiime-Mutebile as a brave man who embodies the true spirit of Nationalism with a rich history of providing exceptional service and being true to his word. He commended Makerere University for immortalizing Professor Mutebile through the Endowed Chair and Centre of Excellence.
“This is a landmark occasion as we count down to the centenary celebrations of Makerere University in 2022. For it is Makerere University that has produced many pan-Africanist Presidents and Prime Ministers in addition to Professor Tumusiime-Mutebile. I am proud of the breakthroughs the University has made in Science and Technology and I encourage you to stay on course to advance your vision in illuminating Makerere University’s capabilities on the global scene,” he said.
“I also commend all the development partners who have invested in the development of the education at Makerere University since its inception. Makerere has seen a series of developments, innovations andreforms. I salute the partnerships that have been very vital in building capacity,” he added.
As part of the day’s proceedings, the Ag. Principal, College of Business and Management Sciences (CoBAMS), Dr. Eria Hisali read the Citation of Excellence detailing Prof. Tumusiime-Mutebile’s academic excellence at all levels, illustrious career as well as his tremendous contribution to national development.
The Deputy Vice Chancellor (Academic Affairs), Dr. Okello Ogwang highlighted Prof. Tumusiime-Mutebile academic and life achievements in the Oratory of Excellence. “In spite of his heavy commitments in the fiscal industry, Prof. Tumusiime-Mutebile has demonstrated his love for promoting education by participating in actual teaching and supporting various educational institutions within and outside Uganda,” Dr. Okello Ogwang remarked. He also applauded Prof. Tumusiime Mutebile for winning numerous honours, awards and tributes both locally and internationally. 
Prof. Emmanuel Tumusiime Mutebile was installed on a symbolic Chair by the Makerere University Acting Chancellor Prof. John Ddumba-Ssentamu amidst applause from Makerere University staff, Bank of Uganda team, family, friends and well-wishers. In his acceptance speech, Prof. Tumusiime Mutebile said holding the Chair of Monetary Policy, Banking and Finance, has opened another window of opportunity for him to serve Makerere University and the people of Uganda.
“Uganda has made impressive strides in both the economic and political areas during the last 30 years. We have overcome those painful days of our history and moved on. I am proud to have been associated with the policies that have brought about the restoration of the economy,” he said.
Commenting on the historic moment and installation, Prof. Tumusiime-Mutebile who was also a Guild President in 1972 commended Makerere University-his alma mater-for the achievements over the years when he said, “Today and particularly this occasion, presents one of the happiest moments in my life. This is not because distinguished honors are being bestowed on me. It is an occasion to recognize and celebrate the many things that Makerere University, the Government of Uganda and the Makerere University Private Sector Forum have achieved over the last 45 years since I was a student at Makerere University. It is also an occasion to thank all those at Makerere University and in the Private Sector Forum for conceiving this new initiative of the Mutebile Chair and Mutebile Center of Excellence.”
According to the Chairperson Makerere University Council, Eng. Dr. Charles Wana-Etyem, plans for the establishment of Prof. Emmanuel Tumusiime-Mutebile’s Chair in Monetary Policy, Banking and Finance and the Mutebile Chair of Excellence started way back in 2007 when it was first conceived by Makerere University Private Sector- Forum (MUPSF). The idea was approved by the University Council with the aim of bridging the University-Industry divide in socio-economic development.
Several high ranking officials attended the colourful ceremony in the Makerere University Main Hall including Director for Higher Technical, Vocational, Education and Training Mrs. Elizabeth Gabona, who represented the Minister of Education, Science, Technology and Sports, Hon. Jessica Alupo; former Minister of Finance, Planning and Economic Development, Hon. Maria Kiwanuka and her husband- Honan Kiwanuka; a delegation from Bank of Uganda led by the Deputy Governor- Dr. Louis Kasekende; former Chairperson of Makerere University Council Hon. Mathew Rukikaire, 
former Vice Chancellors of Makerere University-Prof. George Kirya and Prof. Livingstone Luboobi, Makerere University Management and staff, family members of Prof. Emmanuel Tumusiime Mutebile, and students.
About Prof. Tumusiime-Mutebile
Born on 27th January 1949 in Kabale District– South Western Uganda, Professor Emmanuel Tumusiime Mutebile Kirenga Baryabota joined Makerere University in July 1970 for a Bachelor of Arts Degree in Economics and Political Science. He was later elected Students’ Guild President which eventually brought him in conflict with the then hostile political environment under President Idi Amin Dada. He faced persecution and had to flee the country to complete his Bachelor’s degree course at Durham University, UK where he graduated with a Second Class Honors Upper Division in June 1974.
His undergraduate dissertation was outstanding that it won the first prize in Economics at Durham University. Subsequently, he successfully completed the first year of his postgraduate studies in Economics in June 1975 and embarked on Doctoral studies by research at Oxford University. As part of his PhD studies, Mutebile conducted field work in Tanzania while at the same time teaching at the University of Dar-es-Salaam. However, the outbreak of Uganda`s Liberation War of 1979 interrupted his studies after which, he returned to Uganda and started on the process of rebuilding the then shattered economy. On 14th December 2006, he was appointed Honorary Professor by Makerere University.
His academic excellence is attested by:
- A Tutorial Fellow at Balliol and St. Peter`s College, Oxford University, 1974 – 1977.
- A Visiting Lecturer at Furnham Centre for International Briefing – 1977.
- A lecturer of Industrial Economics at the University of Dar-es-Salaam 1977 – 1979.
- Several books authored in the fields of economic reforms, monetary policy and banking.
- Published pamphlets and booklets in the fields of banking and fiscal reforms.
- Contributed numerous articles in periodicals, magazines and newspapers.
- Countless Radio and TV interviews
Article by: Mak Public Relations Office
On 20th August 2026, Makerere University welcomed another cohort of 258 recipients of the prestigious Mastercard Foundation scholarship for the 2026/2027 academic year with pomp and fanfare. The colourful Scholarship Award Ceremony was presided over by the Vice Chancellor, Prof. Barnabas Nawangwe, who was represented by Prof. Ibrahim Mike Okumu, the Dean of the School of Economics and the Chairperson of the Scholars Selection sub-committee of the Mastercard Foundation Scholars Program at Makerere University.
While addressing the gathering, Prof. Nawangwe reminded the Scholars that the scholarship was both an honour and a responsibility, and that they ought to make the most of it to improve their lives and communities.
“Now that you have stepped through the gates of Makerere University, remember that a scholarship is both an award and a responsibility. You have been chosen because we believe in your potential to lead, innovate, and serve. Makerere University offers you world-class academic resources, mentorship, and networks—but the impact you make with these resources will depend on your discipline, integrity, and vision,” Prof. Nawangwe remarked.
A Call for Responsible Living
The Vice Chancellor further urged the new recruits to embrace university life responsibly and form lasting bonds that will support future networks.
“I encourage you to engage fully and responsibly in University life, build lasting bonds with your peers, and, equally important, keep your home communities close to your heart. Let the knowledge and skills you gain here become the seed for innovative solutions to the challenges facing your communities, our country, Uganda, and the African continent.” Prof Nawangwe emphasised.
Prof. Nawangwe further expressed his gratitude to the Mastercard Foundation for recognising Makerere University as a worthy partner and pledged to continue supporting all the Mastercard Foundation’s initiatives at Makerere University.
Leadership starts with self
Mr. Adrian Bukenya, the Senior Director of the Mastercard Foundation Scholars Program globally and the Country Director for Uganda, urged Scholars to embrace leadership, particularly through self-leadership. He emphasised that the Scholars Program is fundamentally a leadership development program.
“The Scholars Program offers more than just a scholarship; it is a leadership development Program. I encourage you, Scholars, to embrace leadership, and leadership starts with leading yourself, then your community, your country and the continent,” Mr. Bukenya emphasised.
Mr. Bukenya expressed his gratitude to the Management of Makerere University for partnering with the Mastercard Foundation on various initiatives. He emphasised that the Foundation is committed to continuing this partnership to educate young people and nurture the next generation of leaders on the African continent.
Selection Process Highlights
On his part, the Chairperson of the Scholars Selection Committee, represented by Mr Charles Ssentongo, the Deputy Academic Registrar responsible for Undergraduate admissions, congratulated all the Scholars who had made it through a very competitive and watertight selection process. To illustrate how tight the selection process had been, he shared compelling statistics that clearly demonstrated its competitiveness.
“We received 3,664 Applications for the Scholarship; 2,904 Undergraduates and 760 master’s students. Of these scholarship applicants, 1,440 Undergraduates and 280 Master’s students were admitted to Makerere University on private sponsorship, and they were all eligible for the Scholarship,” Mr Ssentongo pointed out.
Mr Ssentongo informed the attentive audience that one of the biggest challenges the Committee faced was the very high number of applicants, while the number of scholarships available was always very small. Mr Ssentongo then highlighted further statistics that characterised the tedious selection process.
“For the Undergraduates, 650 applicants were shortlisted for interviews, while 58 Master’s applicants were also shortlisted. Of these, 245 undergraduates and 13 Master’s students were selected for the final award,” Mr Ssentongo highlighted.
Celebrating A Diverse Cohort
The Program Director of the Mastercard Foundation Scholars Program at Makerere, Prof. Justine Namaalwa, used the occasion to highlight achievements made in the years gone by.
“Today, we are overjoyed to have successfully recruited 258 Cohort 9 Scholars—bringing us to the mark of 546 Scholars, 54.6% of the target recruitment of 1,000 Scholars under Phase II of the Program. To date, a total of 1,596 Scholars have been recruited since 2013, when the Scholars Program started at Makerere University,” Prof. Namaalwa announced.
Prof. Namaalwa showcased the diversity created by the Scholars Program, highlighting the arrival of international students from across the African continent at Makerere University through the Mastercard Foundation Scholars Program.
“For Cohort 9 Scholars, it’s time to celebrate our diversity in the Program. Let me call out the nationalities represented in the room: Lesotho (1 Scholar), Malawi (1 Scholar), Ghana (1 Scholar), D.R. Congo (13 Scholars), Cameroon (7 Scholars), Burundi (3 Scholars), Rwanda (10 Scholars), South Sudan (40 Scholars) and Tanzania (1 Scholar).” Prof. Namaalwa revealed.
Scholars Speak Out
Nathan Tamba, an international student from Cameroon, conveyed his enthusiasm regarding the opportunities afforded by the scholarship, particularly the prospect of pursuing his studies at Makerere University, recognised as one of the leading institutions on the continent.
“On behalf of my fellow scholars, I would like to express our gratitude to Makerere University and the Mastercard Foundation for awarding us this scholarship. It has given me the opportunity to study at this prestigious university and to experience Uganda for the first time.” Tamba remarked.
Tamba, clearly delighted like his fellow scholars, committed to using the scholarship opportunity to gain knowledge and skills he will use to benefit himself and his community.
The function was punctuated by entertainment from the Makerere University Choir, networking, and plenty of joyous celebration.
Bernard Buteera is Principal Communications Officer for the Scholars Program at Makerere University.
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